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efforts in the past decade and in two thousand and eight paid taxes at a rate. waiting for a. one person thank you. thank you thank you thank you thank you thank you. cut you think of how many thank you thank you thank you me i thank you. thank you thank us thank you to come to the two thousand yes thank you but one could send out if you want but that is better than twenty five years of the nothing but great we've been working pete thank you let me play this little bit that you think we could put up with to keep it in bed at night but not listen to coop of the big thing would be the to thank you thank you thank you thank you i thank ye thousand two thousand two thousand two thousand two thousand to two thousand and six was you thank you thank you i. thank you. it is. i've . i've . submitted. lists about.
efforts in the past decade and in two thousand and eight paid taxes at a rate. waiting for a. one person thank you. thank you thank you thank you thank you thank you. cut you think of how many thank you thank you thank you me i thank you. thank you thank us thank you to come to the two thousand yes thank you but one could send out if you want but that is better than twenty five years of the nothing but great we've been working pete thank you let me play this little bit that you think we could...
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it's a tax on show business. >> you have a very different opinion than i do. my attitude is the business is better if all of them were gone. >> really? >> press a button tomorrow and press them down a swirling sewer vortex, i would do it. where's the button? hand it to me now. >> what if they said -- >> somebody on the crew is laughing. >> no more publicity in any newspaper or magazine for anything you do. >> that's not practical. people you will have publicity. listen. i'm not opposed to even though i'm not ecstatic about the entertainment journalism that's out there and cheapens show business and demystifies show business and the once you typically call a gotcha journalism, that's one i think we can all do without. >> mike tyson had a good way of resolving somebody. he said, a photographer at lax. what was the fallout? paparazzi are really good to me. really? let me give them a right hook. let's talk about more cheerful matters. "saturday night live." you've done 16 of these. you're the king of "snl." i want to talk to the king. many of my patients clean the
it's a tax on show business. >> you have a very different opinion than i do. my attitude is the business is better if all of them were gone. >> really? >> press a button tomorrow and press them down a swirling sewer vortex, i would do it. where's the button? hand it to me now. >> what if they said -- >> somebody on the crew is laughing. >> no more publicity in any newspaper or magazine for anything you do. >> that's not practical. people you will have...
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Nov 29, 2012
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we pay taxes overseas. we pay taxes here. we pay other forms of tax as well. i think that story hasn't been told. the fiscal terms that are in place here for our industry, for example, if punitive taxes were imposed on our industry, would impact our investment. i hope that's not where we're headed. i think there is a case to be made that we pay our fair share of taxes, and i work hard to try to communicate that. >> talk to us about an energy policy. what would you like to see in the election is behind us. what should a proper energy policy look like to do everything you're saying, create jobs and, in fact, take advantage of this opportunity that america has. >> i think the energy policy sometimes is made more difficult than it needs to be. to me, there are three things th that you need focus on. do you want affordable energy, do you want secure energy, and the environmental characteristics you want. we talk about those one at a time. we need to talk about those together. >> let me ask you a few questions about from the investment community. i guess the biggest
we pay taxes overseas. we pay taxes here. we pay other forms of tax as well. i think that story hasn't been told. the fiscal terms that are in place here for our industry, for example, if punitive taxes were imposed on our industry, would impact our investment. i hope that's not where we're headed. i think there is a case to be made that we pay our fair share of taxes, and i work hard to try to communicate that. >> talk to us about an energy policy. what would you like to see in the...
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adding tax hikes on ividends and capital gains. the white house wants 50 billion in new spending next year alone in a lng-term deal that is supposed to be about cutting spending. >> not even $400 billion in cuts and they want to have this extra spending that is actually greater than the amount they're willing to cut. it was not a serious proposal. >> the president may have the upper hand because the fiscal cliff tops allow him to back the opposition into a corner by framing this as republicans raising taxes. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. that is sort of like a lump of coal you get for christmas. >> congressional democrats operating like they don't have to compromise on spending or taxes. >> elections have consequences. the president campaigned, made it very clear. made very clear that he was supporting tax cuts for the middle-class, that he wanted the expiration of the tax cuts for the high end. >> very little progress among the inside player so
adding tax hikes on ividends and capital gains. the white house wants 50 billion in new spending next year alone in a lng-term deal that is supposed to be about cutting spending. >> not even $400 billion in cuts and they want to have this extra spending that is actually greater than the amount they're willing to cut. it was not a serious proposal. >> the president may have the upper hand because the fiscal cliff tops allow him to back the opposition into a corner by framing this as...
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Dec 7, 2012
12/12
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as corporations offer dividends now to avoid potential taxes next year, larry ellison from oracle will get $198 million from a special dividend. should investors buy or sell oracle? > > you see a lot of people chasing into these special dividend stocks. you see costco, dillard's, some of the casino stocks, people chasing in to try to get that special dividend. i don't really think it's a play. i am not trading it. > > i like this stock, but i think it is a bit ridiculous for him to save $50 million when he is worth $41 billion- > > top 10 in the world, i think. > > $41 billion! that is a little bit ridiculous. but, the stock has been trading in a range between $30 and $33 in july, looking like it wants to break out to these recent highs at $36. so a $29 call for july of next year- > > but you're not going to get the dividend. > > -is going to cost you- > > but you're not going to get the special dividend. > > -$4. the dividend has nothing to do with it. i like the stock, and i like the fact that we have been trading sideways for the last six months. > round number two: price power. cof
as corporations offer dividends now to avoid potential taxes next year, larry ellison from oracle will get $198 million from a special dividend. should investors buy or sell oracle? > > you see a lot of people chasing into these special dividend stocks. you see costco, dillard's, some of the casino stocks, people chasing in to try to get that special dividend. i don't really think it's a play. i am not trading it. > > i like this stock, but i think it is a bit ridiculous for him to...
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Nov 30, 2012
11/12
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tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans who are on the pundit circle, they say let them go off cliff and let obama own that. there is another one that says just let him have what he wants and then when the economy nose dives he will have to own it. republicans are going to get blamed anyway. do you feel strong about either one of those? >> dana: not necessarily. i do think i see in "washington post," headline, obama offers plan for cliff. plan to be in quotes. the thing that amazes me and the media lets it happen. for eight years or longer now. i had to defend how many times people said on the left, including president obama when he was running for president the first time, the bush tax cuts only help the ri
tax rate goes up. eventually you will get someone out, to get that president out and get president who wants lower tax rates and congress that wants the lower tax rate and maybe a senate. it would hurt dramatically. best time to do it is now. >> andrea: there are two schools of thought here. one if you follow twitter or watch republicans who are on the pundit circle, they say let them go off cliff and let obama own that. there is another one that says just let him have what he wants and...
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Dec 7, 2012
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cuts to protect tax cuts for the very wealthy. that's not where they want to be and somewhere deep inside they know that. >> secretary solis, no matter who they voted for, americans are clearly saying that they want compromise and even if it means accepting policies they don't necessarily agree with. 59% of obama voters want compromise. 54% of romney voters want come pro-might. you've told people they should call their congressman and senators. >> yes. >> should they tell them, let's act like adults and work this out? >> absolutely. and what is really most important is that the public has spoken. we just got through an election and now is the time for people to come together. the president has extended an olive branch. he continues to do that and all of us are working day and night until we get there. i know it's in the best interest of our economy and the world. everyone is looking to the united states for leadership and this president has exerted so much leadership, we need to continue that. it's not one party benefiting over an
cuts to protect tax cuts for the very wealthy. that's not where they want to be and somewhere deep inside they know that. >> secretary solis, no matter who they voted for, americans are clearly saying that they want compromise and even if it means accepting policies they don't necessarily agree with. 59% of obama voters want compromise. 54% of romney voters want come pro-might. you've told people they should call their congressman and senators. >> yes. >> should they tell...
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Nov 29, 2012
11/12
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far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they hel
far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging...
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Dec 6, 2012
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all of us get taxes withheld. if they're going to change what rate i'm going to be taxed at, they're going to have to change that table. that's not an overnight process. certainly, the treasury can't afford to let that go too long because everybody will be underwithheld. they'll get a big tax bill. there will be a riot among the people if that happens. what i'm watching is the treasury. if they get nervous enough, they'll ask them to change the tax tables. so far it looks like they smell a deal and haven't asked for it yet. you think we're going to get a deal? >> i think they may try to push it to the end. the other thing i'm watching for is the 17th when the president is due to take his family to hawaii. i don't think he wants to be in hawaii without a deal. something is going to come up. >> ron, what about you? >> i thought the resignation of senator jim demint, who was a staunch conservative, which was a surprise departure, tells me the republicans in many ways are throwing in the towel on this deal. he's a guy
all of us get taxes withheld. if they're going to change what rate i'm going to be taxed at, they're going to have to change that table. that's not an overnight process. certainly, the treasury can't afford to let that go too long because everybody will be underwithheld. they'll get a big tax bill. there will be a riot among the people if that happens. what i'm watching is the treasury. if they get nervous enough, they'll ask them to change the tax tables. so far it looks like they smell a deal...
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Dec 1, 2012
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. >> sean: same with value added tax after eliminating the fair tax is good, each one is progressive, the more you make, the more you spend. >> people get a flat tax. fair share, think flat tack. i'm starting to see forbes about it and listen this is what we ought to be doing. >> sean: where is the president? why the constant campaign? after every election there's a period when things can get den, good things. i was saying this to bob woodward, one in six in poverty, 50 million on food stamps this is not a time to play games this is a time to get this country out of the fiscal mess it is in, live within our means that means really doing big things, touching entitlements saving them from bankruptcy. campaigning in pennsylvania using class warfare. >> it is more egregious when you know we've had four deaths in libya. what happened how can we avoid that mistake in the future? when you go around the country and texas and people are hurting and struggling and it is breaking their heart to make ends meet and you know we have more energy than anybody in the world and not using it. >> sean: i
. >> sean: same with value added tax after eliminating the fair tax is good, each one is progressive, the more you make, the more you spend. >> people get a flat tax. fair share, think flat tack. i'm starting to see forbes about it and listen this is what we ought to be doing. >> sean: where is the president? why the constant campaign? after every election there's a period when things can get den, good things. i was saying this to bob woodward, one in six in poverty, 50...
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Dec 5, 2012
12/12
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today, the government is warning that reverse mortgages are not free money. >> turn their equity into tax free cash. >> give you tax free cash. >> they are not being told about the down side. >> reporter: right now in america, 57,000 seniors in reverse mortgages are in danger of losing their home. a nearly 10% foreclosure rate, four times higher than traditional mortgages. tomorrow, the department of housing and urban development will recommend congress prohibit large lump sum payments. and recommend seniors be very careful with reverse mortgages. is a reverse mortgage the last option? >> i really think it should be. absolutely. >> reporter: an option -- >> wonderful house. >> reporter: -- linda mcmahon regrets taking. >> i hope somebody will enjoy it. >> reporter: jim avila, abc news, washington. >>> now, our made in america team is back in action, because 40% of retail sales take place between thanksgiving and christmas. and, the more items we buy made in america, the more american jobs we can create together. and there's proof tonight. one of your ideas led abc's david muir to the icon
today, the government is warning that reverse mortgages are not free money. >> turn their equity into tax free cash. >> give you tax free cash. >> they are not being told about the down side. >> reporter: right now in america, 57,000 seniors in reverse mortgages are in danger of losing their home. a nearly 10% foreclosure rate, four times higher than traditional mortgages. tomorrow, the department of housing and urban development will recommend congress prohibit large...
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Nov 29, 2012
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. >> read my lips, no new taxes. and when he violated that pledge -- >> off with his head! ♪ >>> we begin with a very busy day in washington and an array of meetings that would put your average speed dating event to shame. as we know, politics sometimes makes strange bedfellows. in this case one unusual lunch day. this afternoon the president hosted his vanquished rival, mitt romney. no word yet on if mr. romney found the cookies up to his rig rouse standards or how many white house beers the president decided to drink. we're also holding out hope that a savvy waiter or waitress caught at least 47% of the lunch on cell phone video. while in washington romney also met with his former running mate, the marathoner paul ryan, and offered a few kind words about him to the press. >> mr. romney, how was your meeting with mr. ryan today? was it nice to see him? >> that's a greet friend. good to be with him. >> good to be with him? >> always great to see paul ryan. >> while today's lunch was perhaps an opportunity to shake after a hard fought campaign, not everybody was feeling so
. >> read my lips, no new taxes. and when he violated that pledge -- >> off with his head! ♪ >>> we begin with a very busy day in washington and an array of meetings that would put your average speed dating event to shame. as we know, politics sometimes makes strange bedfellows. in this case one unusual lunch day. this afternoon the president hosted his vanquished rival, mitt romney. no word yet on if mr. romney found the cookies up to his rig rouse standards or how many...
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let's let tax rates on the upper income folks go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform, we look at what loopholes and deductions both democrats and republicans are willing to close, and it's possible that we may be able to lower rates by broadening the base at that points. >> in the meantime, now the gop is fighting with itself. speaker boehner is facing growing backlash from the more conservative wing of his party. at issue, the $800 billion in new tax revenue he proposed in a fiscal cliff deal which the white house quickly rejected because it does not raise taxes on the wealthy but aims to get the money through cuts in deductions. senator jim demint denounced boehner's plan as a tax hike that will, quote, destroy american jobs and allow politicians in washington to spend even more. senate minority leader mitch mcconnell also distanced himself from the boehner plan declining to endorse it yesterday. >> we've wasted enormous amount of time here sparring
let's let tax rates on the upper income folks go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform, we look at what loopholes and deductions both democrats and republicans are willing to close, and it's possible that we may be able to lower rates by broadening the base at that points. >> in the meantime, now the gop is fighting with itself. speaker boehner is facing growing backlash from the more conservative wing of...
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Dec 5, 2012
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that offer includes an $800 billion in tax revenue but does not include any tax increase on the wealthiest americans. >>> also, our own dana bash, our congressional correspondent asked john boehner why republicans met today to talk about the fiscal cliff and then are going to go home after the meeting and await for the president's response. here's what mr. boehner said. >> reporter: today's wednesday and the house is going to leave today with two days left in the week. i understand that you are saying that there's no legislation that's been on the floor. but when it comes to just pure optics of the house leaving with the fiscal cliff right in front of us -- >> i'll be here and i'll be available at any moment to sit down with the president to get serious about solving this problem. >> mr. speaker, does the conference perhaps realize that you don't seem to be negotiating in all of this? >> our members believe strongly that raising tax rates will hurt the economy. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising rates. because raising
that offer includes an $800 billion in tax revenue but does not include any tax increase on the wealthiest americans. >>> also, our own dana bash, our congressional correspondent asked john boehner why republicans met today to talk about the fiscal cliff and then are going to go home after the meeting and await for the president's response. here's what mr. boehner said. >> reporter: today's wednesday and the house is going to leave today with two days left in the week. i...
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Dec 4, 2012
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tax increases. after that, ezra klein breaks down the offer and we will discuss today's pow wow between state governors and president obama and what it pore tends for the 21 million americans hoping for health care and "the new york times" frank bruney weighs in on doma and cage for marriage equality when "now" starts in just three minutes. n't my daughs black bean soup spectacular? [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [ male announcer ] antacids don't relieve gas. gas-x is designed to relieve gas. gas-x. the gas xperts. gas-x is designed to relieve gas. when you lost the thing you can't believe you lost.. when what you just bought, just broke. or when you have a little trouble a long way from home... as an american express cardmember you can expect some help. but what you might not expect, is you can get all this with a prepaid card. spends like cash. feels like membership. ♪ but the fire is so delightful ♪ nothing melts away the cold like a h
tax increases. after that, ezra klein breaks down the offer and we will discuss today's pow wow between state governors and president obama and what it pore tends for the 21 million americans hoping for health care and "the new york times" frank bruney weighs in on doma and cage for marriage equality when "now" starts in just three minutes. n't my daughs black bean soup spectacular? [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [...
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Dec 3, 2012
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we'll pay a less tax now to avoid the obama tax the rich tax next year. that is flat out hypocrisy, in my opinion. >> gretchen: i love stuart varney, emon a monday morning because he wakes me up with his analysis. >> hypocrisy will get you any time of day. >> gretchen: i gather you'll be talk being this on varney and company. it's 9:20 a.m. over an fbn. >> thanks. >> gretchen: i'll look forward to see you. coming up, the new plan to push american students ahead, longer school days. is that a good idea? should we keep our kids in school longer? then he's got one of the most popular shows on tv and one of the coolest jobs ever. the red neck rocket scientist blowing things up here, next hour. oh, my goodness, i think that's what's going to be blowing up. just a guess. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality t
we'll pay a less tax now to avoid the obama tax the rich tax next year. that is flat out hypocrisy, in my opinion. >> gretchen: i love stuart varney, emon a monday morning because he wakes me up with his analysis. >> hypocrisy will get you any time of day. >> gretchen: i gather you'll be talk being this on varney and company. it's 9:20 a.m. over an fbn. >> thanks. >> gretchen: i'll look forward to see you. coming up, the new plan to push american students ahead,...
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Dec 3, 2012
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revenue through tax reform, that means lower taxes, but tax reform, $800 billion. >> closing of loopholes and capping deductions. >> right. health savings, $600 billion. mandatory savings, $300. further discretionary savings, $300 billion. house republican counter getting you $202 trillion compared to the white house offer of $1.67 trillion, bill. >> we identified both sides now. >> and we begin. >> let's get them in the middle and find some middle ground there, somewhere, somewhere, in time. we'll see. meantime, market taking it in stride as we head to the close with 50 minutes left in the trading day. the dow down 41 points. at the low of the day we were down 56. >> we're going to start hearing the impact of sandy as we approach the holiday shopping season. sandy stimulated sales of new cars last month. see which automaker drove away with bigger gains, ford or gm. >> then pain at the pump. our next guest is warning a new ethanol fuel blend that not only costs more but adds to the cost of food could damage your car and void your warranty. really? you're going to want to hear this coming
revenue through tax reform, that means lower taxes, but tax reform, $800 billion. >> closing of loopholes and capping deductions. >> right. health savings, $600 billion. mandatory savings, $300. further discretionary savings, $300 billion. house republican counter getting you $202 trillion compared to the white house offer of $1.67 trillion, bill. >> we identified both sides now. >> and we begin. >> let's get them in the middle and find some middle ground there,...
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Dec 5, 2012
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. at chevy's year-end event, we have 11 vehicles that offer an epa-estimated 30 mpg highway or better. yeah? hey. hey. where's your suit? oh, it's casual friday. oh. [ male announcer ] chevy's giving more. now get a 2013 malibu ls for around $199 per month, plus competitive lessees can get $1,000 toward the down payment for an even better deal. >>> good morning, everybody. i'm thomas roberts. topping the agenda the new grinch that's threatening to steal christmas, the seemingly insurmountable impasse over the fiscal cliff. live the president's pr campaign taking him outside the white house but inside the beltway. you're taking a live look at the president glad handing the group of busi
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. at chevy's year-end event, we have 11 vehicles that offer an epa-estimated 30 mpg highway or...
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republicans are sticking to their position that tax cuts should be extended for all americans. danielle nottingham reports for wjz from washington. >>> lawmakers are getting an earful about why they need to avoid the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars, means a couple months rent for this family. >> reporter: the white house has made clear the country could go over the cliff, if republicans refused to raise taxes on the top 2% of american earners. >> for them to be burdened, unnecessarily, because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: republican leaders say they will close loopholes loopholes and eliminate tax breaks to raise money. but insist that bush-era tax cuts must be extended for all americans. >> reporter: the standoff and the country's skyrocketing debt, concerns ryan s
republicans are sticking to their position that tax cuts should be extended for all americans. danielle nottingham reports for wjz from washington. >>> lawmakers are getting an earful about why they need to avoid the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax increases and government spending cuts on the middle class. >> a couple thousand dollars, means a couple months...
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Dec 6, 2012
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we were paying taxes. there was a little law that was only used once on me, i think a paraphernalia law that said it was illegal to ship paraphernalia across state lines. that made it a federal offense. by the way joe biden wrote the law. >> cenk: i hope you're right. biden and obama don't have a great record on this. let's bring in a different point of view. you and i agree we're optimistic about the laws that we hope it goes in the right direction and spreads across the country. i'll bring in sandra, a member of colorado concern. i don't believe she shares our point of view. what is your take on legalizing marijuana in colorado. >> good evening cenk, happy to be here. i represent the business community, and we're very concerned about the passage of amendment 164 and it's implication for business and for colorado. >> cenk: why? >> that's our concern. >> cenk: i don't get that? i guess if you represent the alcohol companies you might be worried about competition but why the business. >> we're concerned abo
we were paying taxes. there was a little law that was only used once on me, i think a paraphernalia law that said it was illegal to ship paraphernalia across state lines. that made it a federal offense. by the way joe biden wrote the law. >> cenk: i hope you're right. biden and obama don't have a great record on this. let's bring in a different point of view. you and i agree we're optimistic about the laws that we hope it goes in the right direction and spreads across the country. i'll...
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tax cuts expire, right? >> initially they did and then were going to do tax reform. >> would they increase the taxes on the rich? >> yeah. >> they would? >> yes. >> to the same extent? >> i would have to do the math. >> don't you do any homework? >> numbers cruncher. dad, thank you so much. i wasn't chained in any way. >> no, he didn't call you co comical. >> you were not chained. >> old time memories. >> okay. >> senator claire mccaskill coming up next, joins us in washington. also cokie roberts. first to bill karins in new york. he has a check on the forecast. bill? >>> good morning to you, joe. we can say good-bye to those late summer/early fall like temperatures. the cold front is heading through neng neck and soon areas of the mid-atlantic. temperatures have fallen a little bit. watching chicago, much colder right now this hour than yesterday at this time at 27. so the midwest has returned to normal. the east coast, blustery weather will arrive during the aft afternoon. on that cold front we've had a li
tax cuts expire, right? >> initially they did and then were going to do tax reform. >> would they increase the taxes on the rich? >> yeah. >> they would? >> yes. >> to the same extent? >> i would have to do the math. >> don't you do any homework? >> numbers cruncher. dad, thank you so much. i wasn't chained in any way. >> no, he didn't call you co comical. >> you were not chained. >> old time memories. >> okay....
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geithner said the president is absolutely willing to go off the cliff unless republicans agree to raise tax rates. >> there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's only 2%. >> reporter: and on that, no progress. >> where are the specifics? where are the discussions? nothing is going on. >> reporter: there have been no real talks between the white house and republicans for a week. but late today, diane, one possible sign of progress. the president and the speaker of the house spoke via telephone. neither side would give any details about what was said, but the stock market closed higher today with traders, at least, apparently optimistic that a deal will be reached. >> one phone call can do that. okay, thank you, jonathan karl. >>> and now, we head overseas to cairo. another day of bloodshed and chaos there. battles erupting in the streets. look there, outside the presidential palace. between those two support between those who support egyptian president morsi and those who want him to go. both sides u
geithner said the president is absolutely willing to go off the cliff unless republicans agree to raise tax rates. >> there's no prospect for an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's only 2%. >> reporter: and on that, no progress. >> where are the specifics? where are the discussions? nothing is going on. >> reporter: there have been no real talks between the white house and republicans for a week....
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, more tax revenue? the president responded, high-end tax cuts do the least for economic growth and cost almost $ 1 trillion. extending middle class cuts boosts consumer demand and growth. the white house released a video today showing how president obama has been consistent on his message throughout the last couple of years. it was central to his campaign. >> we need to give tax relief to working families trying to raise their kids to keep them healthy, send them to college, keep a roof over their heads. that's the choice in this election. that's one of the reasons i'm running for a second term as president. >> how quickly we forget. in the words of secretary timothy geithner, this is why republicans have no choice but accepting the tax increases on the wealthiest americans. >> why does it make sense for the country to force tax increases on all americans because a small group of republicans want to extend for 2% of americans? why does that make any sense. there's no reason why that should happen. we ca
, more tax revenue? the president responded, high-end tax cuts do the least for economic growth and cost almost $ 1 trillion. extending middle class cuts boosts consumer demand and growth. the white house released a video today showing how president obama has been consistent on his message throughout the last couple of years. it was central to his campaign. >> we need to give tax relief to working families trying to raise their kids to keep them healthy, send them to college, keep a roof...
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and tax increases. >> yeah. speaking of which, bob, at least over the weekend, it looks like the white house has moved their piece, and they are not going to move again until the republicans table something. how do you see these things going down? we've got three weeks to play with here before everybody really does leave for the holidays. are you optimistic? >> i'm optimistic by nature. and i have a feeling that when the economic future of the country is at stake or at least the near-term economic future of the country, people are going to rise above and do the right thing. and i think the republicans, frankly, are going to have to accept some tax increases. the wealthy are going to have to accept some tax increases, even if only temporary. but on the other side, there's got to be massive spending cuts and entitlement programs, because you can't have the -- a minor revenue increase without a decrease in spending. and then again, my favorite solution would be a temporary national sales tax, and a federal fuel tax
and tax increases. >> yeah. speaking of which, bob, at least over the weekend, it looks like the white house has moved their piece, and they are not going to move again until the republicans table something. how do you see these things going down? we've got three weeks to play with here before everybody really does leave for the holidays. are you optimistic? >> i'm optimistic by nature. and i have a feeling that when the economic future of the country is at stake or at least the...
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the bush era tax cuts were never meant to be permanent. i don't look forward to more taxes, but the hard facts is to get out of debt somebody has to pay. the other part of the cliff is spending. congress needs to pull back spending, but that's highly unlikely without being forced. i say let it fall. i'd agree if we had no other choice, but from where i sit going off that fiscal cliff represents a disastrous failure of leadership at the top level and i think we need to demand better. >>> also speaking of something better we got this simple prescription from tony. after watching all the republicans and democrats cheering together at the last washington redskin game maybe rg3 should be asked to negotiate the fiscal cliff discussions. i'm just saying. i'm wishing it was so, tony, but i think managing those characters over on pennsylvania avenue might be too much even for our rookie phenom. i'd settle for him whooping the ravens gangnam style. i also want some e-mail. the address here mailbag@wusa9.com. that is our broadcast. i'll be right back
the bush era tax cuts were never meant to be permanent. i don't look forward to more taxes, but the hard facts is to get out of debt somebody has to pay. the other part of the cliff is spending. congress needs to pull back spending, but that's highly unlikely without being forced. i say let it fall. i'd agree if we had no other choice, but from where i sit going off that fiscal cliff represents a disastrous failure of leadership at the top level and i think we need to demand better....
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i'm not for tax hikes. if you buy into the president's story and over half of the country did, i think his actions are not very courageous in my opinion my opinion. i urge him and all of those big business leaders that back the president to call him right now. call treasury secretary geithner right now and say, make our dividend tax cuts retroactive because we just sinned but we really feel sorry for it. back to you. >> it is possible that senegal has views on taxes that conform with this move. maybe his views leading him to democrat support have to do with education or the supreme court or gun control or foreign policy. not everybody is a single issue voter. >> no. not everybody is and, you know, give him the benefit of the doubt. let's give him the benefit of the doubt. take a step back. the issue is whether it's warren buffet worth 50 million pointing down at us and saying, hum. maybe the threshold should be 500,000 instead of 250,000. i don't know about you. but when i see the automatic pilot, and thank
i'm not for tax hikes. if you buy into the president's story and over half of the country did, i think his actions are not very courageous in my opinion my opinion. i urge him and all of those big business leaders that back the president to call him right now. call treasury secretary geithner right now and say, make our dividend tax cuts retroactive because we just sinned but we really feel sorry for it. back to you. >> it is possible that senegal has views on taxes that conform with this...
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whey too high on taxes. not nearly enough on spending reductions. >> the president has said all the way along, if i give you a dollar of revenue, if you guys give me a dollar of revenue, that's $3 trillion in spending cuts. he's coming in with 400, so would you try to get him to 3 trillion here or try to bring down the revenue number? >> well, i think you have to bring down the revenue number. we are not going to tax and spend our way back into economic prosperity in this country. we are going to have to work together. i think most americans are tired of seeing the partisanship and debates. i'm pleased the speaker's up at the white house to find a solution. most people want certainty, long-term predictability in the economy and raising taxes for this amount i think would put us back into a recession and be counterproductive to get our economy going on. >> john boehner clearly, he's the key negotiator. are you going to agree to whatever deal he brings you, if he says representative yoder, it's $1.4 trillion i
whey too high on taxes. not nearly enough on spending reductions. >> the president has said all the way along, if i give you a dollar of revenue, if you guys give me a dollar of revenue, that's $3 trillion in spending cuts. he's coming in with 400, so would you try to get him to 3 trillion here or try to bring down the revenue number? >> well, i think you have to bring down the revenue number. we are not going to tax and spend our way back into economic prosperity in this country....
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we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until the end of the year. but if the taxes go on, on capital gains and dividends, people will start to sell now to have the better, more preferential tax treatment than afterwards. we may see selling in first of the year. >> eric: long-term, think long-term. once we get past that. what will the effect be? what if taxes on dividends go up? >> this is incredible disincentive. especially on the capital gains. to take the risk of investing. when you say long-term, long-term, if you don't need the money you invest in stock market. if you need it in the next five years don't go near
we get taxes, will be cut. no, taxes will go up. spend willing be cut. everyone wants, almost everybody wants spending to be cut. what do you think will happen? >> let's look at wall street. what might happen to the 401(k)s or the stocks. last week, boehner said nothing is happening and stocks would plummet. somebody else would say something going on behind the scenes and stocks go up. this is tremendous volatility. this time of year we get santa claus rally, the stocks will rally until...
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you said, i'm all for the wealthy paying more taxes. so i'm curious, since you've said that, why the reduck tans to just raise the tax rate on the wealthy? >> it destroys growth of the very people who are going to create additional revenues in the future. >> why say you would be all for it? >> i didn't ever say -- not one timedy say i was for raising tax rates on the wealthy. i said i was for increasing the taxes that the wealthy paid. how you do it will have a major impact on the economic fortunes of this country. and if you take the vast majority of small businessmen who will be hit with an increased tax rate, you're going to markedly decrease the job creation and capital formation in this country. >> let me ask you another question, one of the things we talked about on both sides, i think it's fair to say is the lack of details. and second geithner was out trying to defend some of the details in his plan over the weekend. this letter also has very few details. i'm curious to know exactly what loopholes, what deductions would you kill
you said, i'm all for the wealthy paying more taxes. so i'm curious, since you've said that, why the reduck tans to just raise the tax rate on the wealthy? >> it destroys growth of the very people who are going to create additional revenues in the future. >> why say you would be all for it? >> i didn't ever say -- not one timedy say i was for raising tax rates on the wealthy. i said i was for increasing the taxes that the wealthy paid. how you do it will have a major impact on...
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you're mugged by taxes, and that turns you in to a liberal. and conservative and a liberal, i was saying this earlier to somebody like a lib call -- liberal can hold on to the idea until it's the property. then it's like they're not sharing at all. that's kind of the, i think that's the evolution. i do worry that, you know, we're becoming part of a society where we believe our government should be this all caring being. i believe the government should help people in need. i think we're establish that the government should be everybody. that scares me a little bit. we have to take it back and teach people self-reliance and achievement matters. it's the only thing that makes them feel good. [applause] >>> time for one last question right back here. >> hello, greg. >> hi. >> i have a question you already started working on or have any idea for the next book. >> who told you to ask the question. [laughter] i told you to wait in the car. [laughter] you never listen, do you? i told you not to let him in. i gave you a picture. you were supposed -- ye
you're mugged by taxes, and that turns you in to a liberal. and conservative and a liberal, i was saying this earlier to somebody like a lib call -- liberal can hold on to the idea until it's the property. then it's like they're not sharing at all. that's kind of the, i think that's the evolution. i do worry that, you know, we're becoming part of a society where we believe our government should be this all caring being. i believe the government should help people in need. i think we're...
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principles for tax reform. it is very short. lower tax rates. the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. now our viewers can see who said this, would you be surprised that was barack obama speaking back in 2011? >> let's replay that tape. i would like to hear that again. he is talking some sense. david: what happened, bob? he is exactly the opposite today, saying that we need higher taxes. what happened in the course of a year? >> so what you're pointing out is uncertainty. i think people and businesses can deal with tax rates different from what they are. where they can't deal is when we have no clue. uncertainty is one of the worst things for markets and that's why, as you reported a few minutes ago, companies are sitting on this massive amount of cash. they just don't know what to do. we need to give them the rules. sandra: so bob, if we can all agree that taxes in some form are going to go up in the new year what do you do with your money? are we going to a
principles for tax reform. it is very short. lower tax rates. the tax system should be simplified and work for all americans with lower individual and corporate tax rates and fewer brackets. now our viewers can see who said this, would you be surprised that was barack obama speaking back in 2011? >> let's replay that tape. i would like to hear that again. he is talking some sense. david: what happened, bob? he is exactly the opposite today, saying that we need higher taxes. what happened...
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tax rate which is now 35%. but i do think that you know, some republicans have floated the idea perhaps of being okay with races tax on his investment income. i think the president in his past budget definitely talked about that. and i think that in a way although so much of the focus is on raising the marginal tax rates, you know, the way that we typically think of individual income be taxed marginal tax rates and races the tacks on those is really an effective way to tax the wealthy. because the well identity disproportionately benefit from those type of low rates. >> jennifer: for sure. and, of course, we know that once they go over the fiscal cliff and those that -- that cap cal gains rate goes back to the clinton era it will be a 20% rate anyway. one way or another it's going to up. that's all i am saying. nancy took cook, thank you so much from the national journal thank you for join is us inside the war room. coming up, the car room is is not in the prediction business but we hear there is good money in
tax rate which is now 35%. but i do think that you know, some republicans have floated the idea perhaps of being okay with races tax on his investment income. i think the president in his past budget definitely talked about that. and i think that in a way although so much of the focus is on raising the marginal tax rates, you know, the way that we typically think of individual income be taxed marginal tax rates and races the tacks on those is really an effective way to tax the wealthy. because...
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>> the tax problem is the biggest problem. president obama has laid out in the past and seen willing to me, at least, to make some cuts to medicare. maybe not ones conservatives like. what we don't know yet, the big question is, president obama is pushing for $1 trillion in tax increases, pushing it for a long time. he feels he has a mandate on that now. we know his idea is about raising revenue. we don't know what the republicans ideas are on the revenue. that's what we need to know. that's the whole question, what are they. go ahead. >> we've heard from lindsey graham yesterday or the day before with regards to revenue. he still contends, ari, that you can raise a significant chunk of revenue, he's thrown out $800 billion at least by closing loopholes and limiting deductions, whether it's $30,000, $40,000, $50,000. >> yeah, but he's just talking, right? just talking. what the president has done is outlined a plan. he outlined it once and the american people voted for it, and he outlined it again, not surprisingly, the same c
>> the tax problem is the biggest problem. president obama has laid out in the past and seen willing to me, at least, to make some cuts to medicare. maybe not ones conservatives like. what we don't know yet, the big question is, president obama is pushing for $1 trillion in tax increases, pushing it for a long time. he feels he has a mandate on that now. we know his idea is about raising revenue. we don't know what the republicans ideas are on the revenue. that's what we need to know....
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the federal tax rate is currently 25%. so it will be $380 million the government gets $95 million off the top. and the winning states not too shabby either. arizona takes 5% at 9$9.5 millin and missouri stakes $7.6 millio. in the end, the two winning ticket holders end up with 25% of that original jackpot. >>> mitt romney is heading to the white house today, just not in the capacity that he hoped for three weeks ago. this afternoon he'll sit down for a private lunch with president obama. it will be the first encounter since the final presidential debate in october. the meeting fulfills an election night promise by the president to work with romney going forward. that doesn't mean the former massachusetts governor will become a regular. >> is governor romney here tomorrow in some kind of cabinet level position? >> no. >> beyond that, is there some kind of reorganization in the commerce department where governor romney could play a role? >> again, there is -- the president doesn't have a specific assignment in mind for the g
the federal tax rate is currently 25%. so it will be $380 million the government gets $95 million off the top. and the winning states not too shabby either. arizona takes 5% at 9$9.5 millin and missouri stakes $7.6 millio. in the end, the two winning ticket holders end up with 25% of that original jackpot. >>> mitt romney is heading to the white house today, just not in the capacity that he hoped for three weeks ago. this afternoon he'll sit down for a private lunch with president...
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because the progressive tax rates, they encourage all sorts of tax evasion tax be avoidance and you know, they alter people's behavior in order to reduce their tax liability. so you know instead of investing here, you'll invest in some other country with a lower tax rate. you've had those kind of behaviors which would be narrow and progressive tax rates. hence, the money that you raise at the end of the day is not very much. >> eliot: you raise and sharpen our focus on the other side of the equation. as i was reading the article i said wait a minute, we're focusing so much on how we raise the money rather than how and where we spend it. and how much we spend. in a way we've been sucked into this debate about making a tax system progressive without looking as you say we should at how much we spend on the social programs that actually do redistribute. >> that's right. that's what really makes a difference. if you look at how effective taxes are at reducing inequality, they're really not very effective anywhere. what's really effective is spending. because you know, you can really -- if you
because the progressive tax rates, they encourage all sorts of tax evasion tax be avoidance and you know, they alter people's behavior in order to reduce their tax liability. so you know instead of investing here, you'll invest in some other country with a lower tax rate. you've had those kind of behaviors which would be narrow and progressive tax rates. hence, the money that you raise at the end of the day is not very much. >> eliot: you raise and sharpen our focus on the other side of...
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in the letter we know the sticking point is the tax rates. the speaker says, quote, notably the new revenue in the boles plan would not be achieved through higher tax rates, which we continue to oppose and will not agree in order to protect small businesses and our economy. instead new revenue would be generated through pro-growth tax reforms that closes special interest loopholes and deductions while lowering rates. you see in this latest proposal while they offer up pour savings by saying, look, we can tax the rich people through the $800 billion figure. we can find more savings in entitlements reforms and more savings in discretionary spending more so than the budget control act. they're still holding firm on that pledge not to raise the tax rates towards the bill clinton era. how will this play around in the white house? we don't know. this tax rate point has been a very difficult sticking point. both sides have stayed on and they continue to stay on this in their second offer. what you see is some sort of possible framework for a large s
in the letter we know the sticking point is the tax rates. the speaker says, quote, notably the new revenue in the boles plan would not be achieved through higher tax rates, which we continue to oppose and will not agree in order to protect small businesses and our economy. instead new revenue would be generated through pro-growth tax reforms that closes special interest loopholes and deductions while lowering rates. you see in this latest proposal while they offer up pour savings by saying,...
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we need tax reform and higher tax rates on upper income households. >> it seems you could do the tax rates at the end of this year because you could make the kind of deal that you want and then do some of the closing of the loopholes on subsidies. i would hope as a state that have strong businesses that support doing this, you could bring the corporate tax rate down and work on the debt by closing the loopholes in subsidies. >> the tax reform is complicated. i am saying nail down the framework and then go to work and try to figure this out precisely. in terms of corporate tax reform, i think that is absolutely necessary, but i would think the goal there would be to make that revenue neutral if you can. you want to bring down the corporate rates so we can be more competitive. >> what about senator coburn's assessment, in wanting to reduce the debt? >> i disagree. i have a great deal of respect for the senator, but i disagree. the fact that we have so many tax expenditures both on the corporate and income tax side that operates with inefficiency, with jobs going overseas, we need to se
we need tax reform and higher tax rates on upper income households. >> it seems you could do the tax rates at the end of this year because you could make the kind of deal that you want and then do some of the closing of the loopholes on subsidies. i would hope as a state that have strong businesses that support doing this, you could bring the corporate tax rate down and work on the debt by closing the loopholes in subsidies. >> the tax reform is complicated. i am saying nail down...
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tax. >> anyone want to weigh in on these? david, i see you smiling down there. >> i was waiting for judd to jump in. he is the one that convinced me. >> ultimately, i think have gotten more than they can handle. the revenue targets the needs to reach, the spending targets they need to reach now knocked enormous, but if you look down the road, in particular at health care spending, given the discussion we had before, we can do everything we want to try to control health-care spending, but another way to help control health care spending is earmarked a value-added tax toward revenue which would have an immediate link between how much was spent, how much people have to pay in taxes, it would eliminate their repressivity of that, and it would inoculate the deficit from uncertainty about health-care reform. health care reform will take a long time. it is more complicated than tax reform. we have had one major tax reform in the last 50 years, thanks to senator packwood and others. we cannot wait
tax. >> anyone want to weigh in on these? david, i see you smiling down there. >> i was waiting for judd to jump in. he is the one that convinced me. >> ultimately, i think have gotten more than they can handle. the revenue targets the needs to reach, the spending targets they need to reach now knocked enormous, but if you look down the road, in particular at health care spending, given the discussion we had before, we can do everything we want to try to control health-care...
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we can raise tax revenue by simplifying the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and the president can work together to get the job done and deal courageously with the pressing problems of today. when it comes to the fiscal cliff, the president and congress will either fail together or we will succeed together. there is nothing in between. i am confident that we can pass the test and do what is good and right for the american people. >> the president has been talking a lot about taxes lately, and as acpa who practiced for years and a member of ways and means committee, there is no one who likes to talk about tax more than i do. but let's be honest -- talking about taxes is not going to solve the problem that america faces. we have to turn to the spending side of the ledger. furthermore, his tax proposal will kill about 700,000 jobs and do harm to the economy, aga
we can raise tax revenue by simplifying the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and the president can work together to get the job done and deal courageously with the pressing problems of today. when it comes to the fiscal cliff, the president and congress will either fail together or we will...
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they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect elizabeth warren, a champion of financial reform, will get a spot on the banking committee. >>> and senator john mccain hints he might favor filibuster reform. debbie stabenow is here on rule changes. stay with us. we're right back. >>> to all the small business owners who are tired of the system rigged against them, we're going to hold the big guys accountable. >> welcome back to "the ed show." that's elizabeth warren of massachusetts who has been a true champion of holding the big guys accountable. they might be in for a rude awakening. warren will likely become a member of the b
they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect...
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president obama is demanding that higher tax rates for the wealthy and a permanent extension of the debt ceiling, the government's ability to borrow money, be part of the deal. >> he's assuming unprecedented power to spend taxpayer dollars out any limit at all. >> reporter: republicans who say they're open to raising tax revenue say they will only do so in exchange for deep spending cuts. if washington can't strike a deal, one casualty will be compensation for the long-term unemployed. that means people like linda vega, are worried. >> christmas and things of that nature are probably off the table. >> reporter: aides to president obama and speaker boehner met yesterday afternoon. but that meeting ended with no discernible signs of progress. rob and paula? >> thanks, tahman. >>> once the numbers are all tallied, they're going to show that the 2012 presidential election was the most expensive in history. campaign finance statements put the total cost at well above $2 billion. virtually split down the middle between president obama and mitt romney. that includes nearly $86 million raised by
president obama is demanding that higher tax rates for the wealthy and a permanent extension of the debt ceiling, the government's ability to borrow money, be part of the deal. >> he's assuming unprecedented power to spend taxpayer dollars out any limit at all. >> reporter: republicans who say they're open to raising tax revenue say they will only do so in exchange for deep spending cuts. if washington can't strike a deal, one casualty will be compensation for the long-term...
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is it because of capital gains taxes? is it because of slowdowns in smartphones? is it alien invasion? what is it? >> it is mayans -- i don't know. i'll tell you that i think the way to look at this is, everyone's getting very, very dramatic because it's a big price stock. it is $700 down to $500 or $550. it looks like it is this huge thing. in the meantime there have been ten of these 30% corrections in apple's run-up in the last five or six years. it is a very regularly occurring thing. it is just that it started from a very high base. the thing to keep in mind, there is going to be selling pressure on this stock just for the fact that he ever one's got big gains in it and there is uncertainty about what the tax rate will be on capital gains next year. nobody should be surprised by this. what's very encouraging, in the wake of this stock coming down $150 a share and being such a huge weighting in the nasdaq and the s&p, the markets have essentially digested this move. other stocks have gone up. yesterday is a great example. i think if you're bullish on this mark
is it because of capital gains taxes? is it because of slowdowns in smartphones? is it alien invasion? what is it? >> it is mayans -- i don't know. i'll tell you that i think the way to look at this is, everyone's getting very, very dramatic because it's a big price stock. it is $700 down to $500 or $550. it looks like it is this huge thing. in the meantime there have been ten of these 30% corrections in apple's run-up in the last five or six years. it is a very regularly occurring thing....
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Dec 5, 2012
12/12
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WETA
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businesses are looking ahead, and they're thinking with increased taxes, because of the fiscal cliff, if the worst happens, consumer demand is just going to fall off. they are already taking action today to try to prepare for that eventuality. but the consumer is kind of blankly ignoring this, and confidence is up for really lots of reasons. i mean, the net worth of households has been repaired. about two-thirds of it has come back as house prices rise and stock prices are now double what they were at the bottom in march of '09. when you look at state and local budgets, they're now much better with revenue rising. so the layoffs and budget cuts, we think are waning, if not over. housing is clearly coming back. things are improving and consumer confidence reflects that. >> tom: but there is that dark cloud of the fiscal cliff. you mentioned it earlier, businesses planning for consumer confidence to go off that cliff if we go off it as a country. do you not agree with that prospect? >> well, no. i believe it will -- if nothing happens and there is no agreement, i think there will be a m
businesses are looking ahead, and they're thinking with increased taxes, because of the fiscal cliff, if the worst happens, consumer demand is just going to fall off. they are already taking action today to try to prepare for that eventuality. but the consumer is kind of blankly ignoring this, and confidence is up for really lots of reasons. i mean, the net worth of households has been repaired. about two-thirds of it has come back as house prices rise and stock prices are now double what they...
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Dec 4, 2012
12/12
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CNBC
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it's broadening the base, perhaps lowering some taxes and overhauling that tax code. he said that would destroy american jobs. as the chief executive of a major u.s. corporation, do you agree with that? >> i think it's hard to decide whether it's going to destroy a job until you know what the specifics are. i do think you need to provide incentives for people to keep growing their business, to make more money. i think a really high progressive tax rate won't do that. i do think -- if you raise the rates by a couple points, it's not going to drive everybody crazy. i think what we have to do is get the government out of this industrial policy where every time we turn around, they want something done. they pass a tax law. they get people to invest in it. then they turn around and blame you for taking advantage of the tax law. they call it incentives. then they call it loopholes. i think we have to get the government out of that part of the business. that tax code has to be changed. >> you've got to pay your fair share. >> everybody should pay their fair share. >> allstat
it's broadening the base, perhaps lowering some taxes and overhauling that tax code. he said that would destroy american jobs. as the chief executive of a major u.s. corporation, do you agree with that? >> i think it's hard to decide whether it's going to destroy a job until you know what the specifics are. i do think you need to provide incentives for people to keep growing their business, to make more money. i think a really high progressive tax rate won't do that. i do think -- if you...
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Dec 5, 2012
12/12
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CURRENT
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they realize that our taxes are going to be up a little bit. they know there is going to reform to social security and medicare, they want to know so they know how to plan for their companies. i hope it's resolved before i get there if not so be it, i see this as an opportunity for america to lead the way. china is slowing down. india is slowing down. europe is in a recession. south america is slowing down. we have an opportunity to lead out of this mess. i hope we take the lead. >> jennifer: everyone wants to prevent going over over the cliff you still will have a lot of issues on how best to lead the country forward. allen west will be gone but there will be tea partyers remain. how do you work with people who think compromise is a bad word? >> look, i was just earlier with the republican part of my district today and met with a lot of republican commissioners. the message i told them is what i told everybody. whether you're a republican, democrat, i have an open door. i want to hear your thoughts, your concerns and i want to be your voice in
they realize that our taxes are going to be up a little bit. they know there is going to reform to social security and medicare, they want to know so they know how to plan for their companies. i hope it's resolved before i get there if not so be it, i see this as an opportunity for america to lead the way. china is slowing down. india is slowing down. europe is in a recession. south america is slowing down. we have an opportunity to lead out of this mess. i hope we take the lead. >>...
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Nov 30, 2012
11/12
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KNTV
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connecx toys. >> we all agree on making sure middle class taxes don't go up. let's get that done. let's take the fear out for the vast majority of american families so they don't have to worry about $2,000 coming out of their pocket starting next year. >>> all right. now to a story you will see on nbc bay area. >> the san jose skyline could look different if the city can get clearance from the faa. the city leaders say they want taller buildings up to 40 stories high, but since downtown is in the flight path of the airport, there are flight restrictions and that is costing the city money. >> we can do that because we can bring more vibrancy to downtown. more people using restaurants and retail and obviously that attracts more business. >> the faa is doing a study looking the -- at other airports. critics say having taller buildings will ruin the view for the buildings already in downtown. >>> when we come back, they are called new york's finest for a reason. kindness that has a lot of people talking. >>> just in time for the cold weather and holidays, it was a random act of kindne
connecx toys. >> we all agree on making sure middle class taxes don't go up. let's get that done. let's take the fear out for the vast majority of american families so they don't have to worry about $2,000 coming out of their pocket starting next year. >>> all right. now to a story you will see on nbc bay area. >> the san jose skyline could look different if the city can get clearance from the faa. the city leaders say they want taller buildings up to 40 stories high, but...
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Dec 5, 2012
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low tax small government party. the other party leadership proposes, wait for it, $800 billion in tax increases. it's noted that the democrats have celebrated the proposal put out by president obama. meanwhile, you have a number of republicans slamming speaker boehner. how would you describe his position right now? >> well, he really didn't win for losing. he's trying to say to president obama if i wanted topaz your proposal i can't do it. he's really truly between a deal and promise and getting the fight over with and a conference that won't allow it. i think what senator demint is saying and house republicans are saying to john boehner is, let's go over the cliff. that we can live with the sequester and we absolutely will not raise tax rates no matter what. what that does is eliminate all of the tax cuts and then there's a new fight in january to push obviously by the democrats to restore tax cuts for 98% of americans. and then that will be muddied by the need for a debt ceiling increase and the fight goes in to f
low tax small government party. the other party leadership proposes, wait for it, $800 billion in tax increases. it's noted that the democrats have celebrated the proposal put out by president obama. meanwhile, you have a number of republicans slamming speaker boehner. how would you describe his position right now? >> well, he really didn't win for losing. he's trying to say to president obama if i wanted topaz your proposal i can't do it. he's really truly between a deal and promise and...
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Nov 29, 2012
11/12
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FOXNEWSW
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additional tax increases equal to $600 billion. 2009 level estate tax. multiyear stimulus package starting with at least $50 billion next year alone. permanent increase in the debt ceiling, the debt limit enough to avoid it. in exchange, $400 billion in savings from the medicare and other entitlements to be worked out next year with no guarantees. that didn't go over well. syndicated columnnist charles krauthammer. what is going on here? >> you know, up until today i didn't think -- i did think that the president had shown leg on entitlement reform. he did no 2011. when the house speaker failed to reach a grand bargain. you heard signals from dick durbin said on the sunday shows that medicare had to be on the table. he circled back and say it couldn't be part of the down payment. a lot of confidence that the president is willing to go over the cliff before he would do anything to entitlement. this is the -- the ball is in the democrats' court, not in the republicans that i spoke to today. did say that the administration proposal just as boehner said is n
additional tax increases equal to $600 billion. 2009 level estate tax. multiyear stimulus package starting with at least $50 billion next year alone. permanent increase in the debt ceiling, the debt limit enough to avoid it. in exchange, $400 billion in savings from the medicare and other entitlements to be worked out next year with no guarantees. that didn't go over well. syndicated columnnist charles krauthammer. what is going on here? >> you know, up until today i didn't think -- i did...
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Dec 7, 2012
12/12
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WTTG
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the tax -- the attack in rice hall on tuesday. the burglary happened in the ivory tower hall yesterday afternoon. >>> a montgomery county high school student accused of trespassing is now charged for bringing an unloaded gun to school. police arrested the teen thursday morning at magruder high school. they are charging the teen as an adult for carrying a dangerous weapon on a high school campus. the student did not have any ammunition. >>> dozens of d.c. police officers working in a specialized narcotics task force are being redeployed to help fight robberies in the city. police chief kathy lanier says the officers will no longer be working together. instead, they will be fanned out to the seven police districts. it's move being slam. ed by the fraternal order of police. chairman christopher baumann says the narc on the ins strike force brought an expertise to undercover operations that will be difficult to match. >> because the department hasn't told anybody internally or put anything in writing as usual, we don't know exactly wh
the tax -- the attack in rice hall on tuesday. the burglary happened in the ivory tower hall yesterday afternoon. >>> a montgomery county high school student accused of trespassing is now charged for bringing an unloaded gun to school. police arrested the teen thursday morning at magruder high school. they are charging the teen as an adult for carrying a dangerous weapon on a high school campus. the student did not have any ammunition. >>> dozens of d.c. police officers...
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Dec 7, 2012
12/12
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labor higher than we tax capitol. the republicans believe it does, they believe the higher you tax something the more you are discouraging it. there is bill crystal asking why do we want to tax labor more than capitol? that is the question. >> it is interesting. you are are seeing rank and file members of the party. you are starting to see the troops fall away. what would happen if for instance the senate bill were to be voted on in the house? >> they want to do it. and it would pass. we would have to get into these other questions. >> polls favoring the president in his approach and the outcome that he wants. and the polls i don't think that rush are limbaugh is reading those polls. >> there is no way to come to an agreement. the only thing that can happen is for one side to cave in. this is being realistic. there is no common ground here. there is no bipartisanship to be had. it ain't going to happen. there is no compromise. none. there is only concession. and that is what will happen. when rush doesn't want to soun
labor higher than we tax capitol. the republicans believe it does, they believe the higher you tax something the more you are discouraging it. there is bill crystal asking why do we want to tax labor more than capitol? that is the question. >> it is interesting. you are are seeing rank and file members of the party. you are starting to see the troops fall away. what would happen if for instance the senate bill were to be voted on in the house? >> they want to do it. and it would...
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our i think if you look at the fact if you give me one hundred thousand dollars after taxes here in d.c. i mean look i mean well it's it's good you can go to dinner or you get some decent clothes j. crew are going to object really really rise it's good and i do want to show obama's recommending it and then he does one thing obama administration's been right on being j. crew upper middle class it's affordable it's good it's not going to matter he still it's still pretty expensive really sorry lauren i'm sorry mrs davis is not good enough for you but you know jake was not affordable as one of the designer. i was saying it's not it's not. ok you have turned loose change into a commercial but i would just say that i was just being very aspirational in my price tag all right all wrong all right nothing wrong with that let's move on to some cool aspirations that we had to have the show reach as far as we can and today it reached to the new york times page to none other than paul crewman's blog so we interviewed peter schiff earlier this week on hyper inflation and take a look at how it made i
our i think if you look at the fact if you give me one hundred thousand dollars after taxes here in d.c. i mean look i mean well it's it's good you can go to dinner or you get some decent clothes j. crew are going to object really really rise it's good and i do want to show obama's recommending it and then he does one thing obama administration's been right on being j. crew upper middle class it's affordable it's good it's not going to matter he still it's still pretty expensive really sorry...
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Dec 3, 2012
12/12
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we got four bad years of regulation taxes, he wants to add higher taxes to that. tea party two is going to dwarf tea party one if obama pushes us off the cliff. >> there's a doctor strang love. how many republicans will be willing to stand up to that threat. david corn is here to talk about it, the washington bureau chief for mother joins and the author of "47 percent" he's a member of the gridiron society and john feehery is a republican strategist. grover, you're playing defense here. one man elected to nothing. the fact that saxby chambliss comes up, i don't have to live up to some pledge i made 20 years ago and calls up and has grover on the phone going through the transcript of what he said and he's apologizing for each segment as it. what's going on? a senator has to kiss butt to this guy? >> i have known grover for a long time and i like him and he representing -- >> you're afraid of him too. >> i'm not afraid of him. he represents a cause and he's been amazingly successful because taxes have gone down for a long time because of grover. what do we nou becau
we got four bad years of regulation taxes, he wants to add higher taxes to that. tea party two is going to dwarf tea party one if obama pushes us off the cliff. >> there's a doctor strang love. how many republicans will be willing to stand up to that threat. david corn is here to talk about it, the washington bureau chief for mother joins and the author of "47 percent" he's a member of the gridiron society and john feehery is a republican strategist. grover, you're playing...
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Nov 30, 2012
11/12
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FBC
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we see all the taxes raised. which is something he wants more government, the more money for the government, less from the private sector, more for the government. two, the military would have to drastically cut expenditures, he doesn't seem too bothered by that. he could blame republicans for anything that went wrong. do you go that far to think perhaps the president doesn't want a resolution? >> he has not given an indication it is a top priority. a top priority you would try to work with the other side and how you can work with the other side. to make demands that are this far off of where we were starting from, seems to knot be really trying to move forward on this so it does lead one to wonder what he is trying to do. we've got the real problem out there, we've got the fiscal cliff, yes, that's interesting but what is really concerning is hitting that debt ceiling which will probably happen sometime around february. we all remember what that was like in august of 2011 and this group seems to be even less wil
we see all the taxes raised. which is something he wants more government, the more money for the government, less from the private sector, more for the government. two, the military would have to drastically cut expenditures, he doesn't seem too bothered by that. he could blame republicans for anything that went wrong. do you go that far to think perhaps the president doesn't want a resolution? >> he has not given an indication it is a top priority. a top priority you would try to work...
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Dec 4, 2012
12/12
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you have this medical device tax. you have a 10% tanning tax. so all of these things are going to come together. this is not just something that is going to affect the quote/unquote wealthy top 2% income, it's going to affect all americans. >> do you think the president sent his proposal up through the secretary of treasury geithner that he deliberately made his quite far reaching, for instance, he wantses to have additional stimulus money, he wants monee. >> $50 million -- billion more. >> i am sure that that sent a chill up the spine of most house republicans. do you think he did that as a negotiating tactic? you put the worst-case scenario and say you don't want it to have something else. >> i don't understand the mind of the president when it comes to this. $1.6 trillion in new tax, does nothing for the debt. one of the things he asks for is complete authority to raise the debt limit. we are not serious about this $16 trillion i. do you think he was serious about that? >> obviously, he sent it over there. >> i know, but the idea that you wou
you have this medical device tax. you have a 10% tanning tax. so all of these things are going to come together. this is not just something that is going to affect the quote/unquote wealthy top 2% income, it's going to affect all americans. >> do you think the president sent his proposal up through the secretary of treasury geithner that he deliberately made his quite far reaching, for instance, he wantses to have additional stimulus money, he wants monee. >> $50 million -- billion...
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Dec 4, 2012
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we know whether you cut taxes or raise taxes, you are always going to spend. >> i am not agreeing with his policies. don't misunderstand me. what i am saying is this is a negotiation and he is coming in with everything. where is he going to go? is onlo come down. the gop will have to come up. somewhere we hope they meet in the middle. >> he doesn't have to come down though. i agree with compromise. i would say 51% voted for this. you know what, go ahead. it is like having a teenager that you keep telling, vegetables are good for you and they keep kicking your shins saying, i am not eating the vegetables. finally i say, eat twinkies until you die. >> you can't because twinkies have been eliminated. >> someone is going to buy them. >> last word to you, bill. >> geitner says this is going to happen, but we have to go through a little political theater. they want people to come together and do their job. if the use of the word flabbergasted is any indication we will get a lot more. he will use the word god smack tomorrow and then break out in tears. >> i disagree with you. you are right ab
we know whether you cut taxes or raise taxes, you are always going to spend. >> i am not agreeing with his policies. don't misunderstand me. what i am saying is this is a negotiation and he is coming in with everything. where is he going to go? is onlo come down. the gop will have to come up. somewhere we hope they meet in the middle. >> he doesn't have to come down though. i agree with compromise. i would say 51% voted for this. you know what, go ahead. it is like having a teenager...
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Dec 4, 2012
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tax, a 10% tanning tax. all of these things come together. this is not just something that will affect the quote, unquote, wealthy top two income tax brackets. it will affect all americans. that's what we're talking about. >> greta: do you think the president sent his proposal up through secretary treasurer geithner that he made his deliberately quite far-reaching. he wants additional stimulus money, money in his proposal. >> 50 billion more. >> greta: i'm sure that that probably sent a chill up the spine of most house republicans. do you think that he deliberately did that almost as a negotiating tactic? he put the worst case scenario on the table so they would say i don't want that so they can get something else? >> i don't understand the mind of the president when it comes to this. 1.6 trillion in new taxes. it does nothing for the debt. as a matter of fact, one of the things he asks for, he wants complete authority to raise the debt limit. >> greta: do you think he was serious about the 16 trillion? >> h
tax, a 10% tanning tax. all of these things come together. this is not just something that will affect the quote, unquote, wealthy top two income tax brackets. it will affect all americans. that's what we're talking about. >> greta: do you think the president sent his proposal up through secretary treasurer geithner that he made his deliberately quite far-reaching. he wants additional stimulus money, money in his proposal. >> 50 billion more. >> greta: i'm sure that that...
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Dec 6, 2012
12/12
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CURRENT
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the tax cuts entime entitlement cuts. >> i'm not sure that they won't fold on the tax cuts. once again you have to step back from the observation of what's going on in washington now, and remember we're fighting whether or not the top marginal rates should be in the low 30s or not. we should roll back the reagan tax cut but i don't believe in miracles. >> eliot: charles, what you're say something critically important. we're all in a way falling prey to this issue as if they're big issues when they're not. the fact that the rate would go from 35 to 39.6, it used to be in the 90s and 70s and 60s, and capital gains will be taxed at below the rate of ordinary income. we're dealing with the most minimal of shifts and changes yet we're being sucked into the notion that this is dramatic. it's not. >> you divided the republicans in three separate camps. i would say that the difference between the theological theocrats and the tee tea party is minimal. to a certain extent the policies that plays out with the theocrats is economics. four republicans have become identity politics. they
the tax cuts entime entitlement cuts. >> i'm not sure that they won't fold on the tax cuts. once again you have to step back from the observation of what's going on in washington now, and remember we're fighting whether or not the top marginal rates should be in the low 30s or not. we should roll back the reagan tax cut but i don't believe in miracles. >> eliot: charles, what you're say something critically important. we're all in a way falling prey to this issue as if they're big...
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Dec 4, 2012
12/12
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KPIX
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it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both sides say it's time to get serious. governors from six states are headed here to washington today to tell president obama their thoughts on the fiscal cliff. the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one's going to get what they want, but as a country to move forward, we've got to figure out who gives where, and if everything is going to be out on the table, how do we negotiate that? >> reporter: republicans have given a counterproposal to the president's plan which he issued last week. they say
it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both...
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Dec 3, 2012
12/12
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CNNW
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said, look, instead of raising the tax rates why don't we close loopholes in the tax system, make the tax system more efficient and stop picking winners and losers. i think that's the latest offer the republicans have put on the table. they're not opposed to a tax increase. they're basically saying let's do it the right way in a way that doesn't hurt the economy. >> yeah, but stephen, you could close every loophole that's out there and that wouldn't make up for our deficit. >> no, but the president's plan of raising taxes on the rich, let's assume even he has his way. let's assume republicans go along with his plan. that at best raises about $70 billion a year. that leaves us with a trillion dollar deficit. this puts the president i think in a little bit of a hole. if the republicans give his way, what's plan "b"? what do we do next to deal with the deficit? the president and tim geithner basically this weekend said we've got plans to cut entitlements by 400 bill or ion 500 billion dollars. that's over ten years. we have a much bigger hole than i think anyone in washington is willing
said, look, instead of raising the tax rates why don't we close loopholes in the tax system, make the tax system more efficient and stop picking winners and losers. i think that's the latest offer the republicans have put on the table. they're not opposed to a tax increase. they're basically saying let's do it the right way in a way that doesn't hurt the economy. >> yeah, but stephen, you could close every loophole that's out there and that wouldn't make up for our deficit. >> no,...
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Dec 5, 2012
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MSNBCW
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they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect elizabeth warren, a champion of financial reform, will get a spot on the banking committee. >>> and senator john mccain hints he might favor filibuster reform. debbie stabenow is here on rule changes. stay with us. we're right back. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. th
they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep saying no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect...
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Dec 6, 2012
12/12
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WMAR
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they will still be considered as single for state income tax purposes. so once again, a lot of folks are expected to be lining up at the courthouse here today for the same sex marriage licenses. reporting live in downtown baltimore, sherrie johnson, abc2 news. >>> "gq" magazine named ravens' linebacker brendan abuoyant day joe the gay of the year. he was criticized for doing so. the vikings' punter chris kluwe was also awarded for the honor. he's been very outspoken about his support for equal rights for same sex couples. >>> breaking news, kate middleton is out of the hospital. the pregnant duchess was released this morning after being treated for severe morning sickness. we got this video in just a few moments ago and now megan you have to remember the duchess' pregnancy is still very much in the early stages. >> not yet past the first trimester and the palace is not ready to announce a due date for the baby. it will be next in line to the british throne after prince william and prince charles the grandfather. >>> news time right now five minutes after
they will still be considered as single for state income tax purposes. so once again, a lot of folks are expected to be lining up at the courthouse here today for the same sex marriage licenses. reporting live in downtown baltimore, sherrie johnson, abc2 news. >>> "gq" magazine named ravens' linebacker brendan abuoyant day joe the gay of the year. he was criticized for doing so. the vikings' punter chris kluwe was also awarded for the honor. he's been very outspoken about his...
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Dec 5, 2012
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they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep say iing no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect elizabeth warren, a champion of financial reform, will get a spot on the banking committee. >>> and senator john mccain hints he might favor filibuster reform. debbie stabenow is here on rule changes. stay with us. we're right back. eat good fats. avoid bad. don't go over 2000... 1200 calories a day. carbs are bad. carbs are good. the story keeps changing. so i'm not listening... to anyone but myself. i know better nutrition when i see it: great grains. great grains cereal starts whole and stays whole. see the seam? more processed flakes look nothing like natural grains. you can'
they get an average tax cut meaning if it expires, their taxes go up. republicans know that. republicans know if they don't do it by january 1st, we're going to keep passing tax cuts for the middle class. if they keep say iing no, eventually they won't because the public pressure will be on them they need to step up. they have to quit protecting. they do everything in the name of the wealthy. >> okay. sherrod brown, stay with us. i appreciate it. >>> it looks like senator-elect...
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Dec 5, 2012
12/12
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it's always easy for somebody to say let's tax the other guy, not me. i think part of the situation is going to be deciding revenue enhancements, whether that's closing loopholes or raising rates or as we've done in utah, grow the economy which is another way to increase revenue, and there's a debate on what cuts are going to be made and are entitlements on the table. so i expect that's going to be part of the discussion. what we're wanting to say to the congress and the president today, though, as a state, we want you to get it done. compromise ought not to be a dirty word. there ought to be the fact that the good people can come together, find common ground and keep in mind what's in the best interests of the economy of america and the taxpayer, and find a solution. putting this off and procrastination and kicking it on down the road is not an option. we as governors are saying get it done, it's going to impact our states. we're prepared to help you. we'll take less money as states. give us more flexibility, we'll fit within some parameters and we can
it's always easy for somebody to say let's tax the other guy, not me. i think part of the situation is going to be deciding revenue enhancements, whether that's closing loopholes or raising rates or as we've done in utah, grow the economy which is another way to increase revenue, and there's a debate on what cuts are going to be made and are entitlements on the table. so i expect that's going to be part of the discussion. what we're wanting to say to the congress and the president today,...
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Nov 29, 2012
11/12
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we don't want to raise taxes on anybody. so i think the best thing to do is to take that issue off the table early. >> reporter: but speaker boehner quickly shot down the idea. >> i told tom earlier in our conference meeting that i disagreed with him. >> reporter: speaker boehner's aides described the talks with the white house today as business-like. they say they're in communication all the time. and that the fact that speaker boehner himself isn't sitting down with the president shouldn't be taken as a sign that talks aren't progress, scott. >> pelley: time is running, thanks, nancy. we've been get a lot of encouraging news about the economy lately and we got more today. in its most recent survey, the federal reserve found that consumer spending and economic growth are up in all regions of the country except those affected by hurricane sandy. moving on now to syria's civil war. at least 34 people were killed today when two car bombs ripped through a suburb of damascus. syria's assad dictatorship has been trying to crush a
we don't want to raise taxes on anybody. so i think the best thing to do is to take that issue off the table early. >> reporter: but speaker boehner quickly shot down the idea. >> i told tom earlier in our conference meeting that i disagreed with him. >> reporter: speaker boehner's aides described the talks with the white house today as business-like. they say they're in communication all the time. and that the fact that speaker boehner himself isn't sitting down with the...
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Dec 7, 2012
12/12
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but republicans favor tax reform instead. they say raising taxes on the wealthy could hurt business. the other solution, possible solution involves raising the debt ceiling. president obama advice sid a falls church -- visited a falls church family. the president says it's imperative that congress act now. >> it's very important that we get this done now. that we don't wait. we're in the midst of the christmas season of the american people are counting on this getting solved. the closer it gets to the brink, the more stressed they're going to be good by demanding the power to raise the debt ceiling whenever he wants by as much as he wants, he showed what he's really after is assuming unprecedented power to spend taxpayer dollars without any limit at all. >> reporter: senator mitch mcconnell talking about the debt ceiling and the president's proposal to raise the debt ceiling. we'll have more on that debate coming up at 6:30. back to you. >>> we have dedicated our entire news department to track this story. we're ready with a
but republicans favor tax reform instead. they say raising taxes on the wealthy could hurt business. the other solution, possible solution involves raising the debt ceiling. president obama advice sid a falls church -- visited a falls church family. the president says it's imperative that congress act now. >> it's very important that we get this done now. that we don't wait. we're in the midst of the christmas season of the american people are counting on this getting solved. the closer...
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Dec 6, 2012
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a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> let's allow higher rates to go up for the top 2%, that includes all of you, yes. but not in any way that's going to affect your spending, your lifestyles, or the economy in any significant way. let's make sure that 98% of americans don't see it -- a single dime in tax increases next year. >> so, john boehner, the speaker for the republican party in
a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess...
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Dec 5, 2012
12/12
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for millions of people the 2001 tax bill only change the name of the tax that i the name of the tax that i pay. i got very little benefit from the rate reduction because i was shifted over but in my opinion it has nothing to do the absence of the index but a result of the conscious vision to hide the cost as the bush tax cuts to be that amt in place >>host: the highest amt is 20% but after 2001 if the tax rate was lowered a to defy% used had to pay a mts backtracked but incomes between 200 north that is hitting the 35% rate and the end comes are lower than the levels at which you would hit the 35% rate. there is a bazaar rate structure. >>host: why is it called a patch? >>guest: one time, year by year, patch, of the broad expansion. you could say why do they call it a cliff? [laughter] it is discussed in a terms of apache and it is a year by year increase. of the patches nothing but an increase of the exemption to prevent tens of millions of people to be forced to fallout their return. what makes this critical in the discussion is weird talking about the package for 2012 i'd like the res
for millions of people the 2001 tax bill only change the name of the tax that i the name of the tax that i pay. i got very little benefit from the rate reduction because i was shifted over but in my opinion it has nothing to do the absence of the index but a result of the conscious vision to hide the cost as the bush tax cuts to be that amt in place >>host: the highest amt is 20% but after 2001 if the tax rate was lowered a to defy% used had to pay a mts backtracked but incomes between...
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Nov 30, 2012
11/12
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. >> we shall not raise taxes in this country. we do not have a revenue problem. i would like senator mcconnell to recognize that the washington leaders are like a bunch of crack addicts. they need evermore money for evermore growing government and it is at the expense of the ordinary citizen that they pursue these policies. >> reporter: but the brighter those lines are drawn, the harder it will be to get a deal. owen williams worked more than 20 years on wall street. now he runs a small college here that sits on the board of the henry clay center for statesmanship. the way to a solution, he says, is for both sides to have a voice. >> both have taken the attitude that it's my way or the highway. and americans recognize that that's just not the way things typically get done in this country. and if we continue along that line, we will go over the fiscal cliff and who knows what the abyss beyond it will be like. >> reporter: the united states senate's always valued its reputation as the world's greatest deliberative body set apart fr
. >> we shall not raise taxes in this country. we do not have a revenue problem. i would like senator mcconnell to recognize that the washington leaders are like a bunch of crack addicts. they need evermore money for evermore growing government and it is at the expense of the ordinary citizen that they pursue these policies. >> reporter: but the brighter those lines are drawn, the harder it will be to get a deal. owen williams worked more than 20 years on wall street. now he runs a...
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incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary geithner's comments about going over the cliff. the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me-- or do not used words like "curt," "frank" and "direct" meaning it was probably more gentle. also i'm told scott this is no longer a time for check-in phone calls between these two leaders. everything now is substantive about the underlying merit of what treasury secretary geithner. republicans bel
incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the...
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Dec 4, 2012
12/12
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he spoke of the benefits of cutting taxes. president obama, i hope you're watching this. >> this can be the most important step we could take to prevent another recession. that is the right time to make tax cuts both for your family budget and the national budget. resulting from a permanent basic reform and reduction in our rate structure, a creative tax cut creating more jobs and income and eventually more revenue. it will include an across the the board top to bottom cut in both corporate and personal income taxes. the billions of dollars this bill will place in the hands of the consumer, and our businessmen, will have both immediate and permanent benefits to our economy. every dollar released from taxation that is spent or invested will help create a new job and a new salary and these new jobs and new salaries can create other jobs and other salaries. >> right. that is the message that president obama needs to hear. unfortunately, there's growing evidence to indicate that he's not interested in striking any deal at all. now
he spoke of the benefits of cutting taxes. president obama, i hope you're watching this. >> this can be the most important step we could take to prevent another recession. that is the right time to make tax cuts both for your family budget and the national budget. resulting from a permanent basic reform and reduction in our rate structure, a creative tax cut creating more jobs and income and eventually more revenue. it will include an across the the board top to bottom cut in both...
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Dec 5, 2012
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generate revenues by creating new tax payers, not new taxes. [applause] rapid economic growth is the only way to generate the kind of money we need to bring this debt under control. tax increases do not create new taxpayers. they do not great rapid economic growth. regulation is necessary to protest at -- to protect our environment and keep our food safe. but regulations cost money to follow. the more expensive a regulation, the less money a business has to give raises or hire new people. we need to have a balanced approach to regulation. we need to weigh the benefit of any given regulation against the impact it will have on job creation. that is why we should implement something like senator paul's act, so that congress that's the final say on it. -- gets the final say on it. [applause] getting control of our debt. it is critically important. it is not enough. we need to do more. we should expand our domestic energy industry. american innovation has given us access to massive new deposits of oil and natural gas, making america one of the most
generate revenues by creating new tax payers, not new taxes. [applause] rapid economic growth is the only way to generate the kind of money we need to bring this debt under control. tax increases do not create new taxpayers. they do not great rapid economic growth. regulation is necessary to protest at -- to protect our environment and keep our food safe. but regulations cost money to follow. the more expensive a regulation, the less money a business has to give raises or hire new people. we...
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Dec 6, 2012
12/12
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these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff which is a creation of congress. it's a bipartisan creation. this fiscal cliff is the result of the last fiscal cliff. >> bill: that put a date on there. >> yeah. >> bill: may extend the date that's what i think is going to happen. >> my hope is is that we can avoid the bad stuff. then we have to deal with the 16 trillion-dollar debt that $1 trillion a year in deficit spending. we have to solve that. that thing is not going to solve itself. >> bill: doesn't feel like the president feels the urgency that you feel. you are one of the leaders
these taxes the president wants. if begive him all tax increases it pays for 8 and a half days of government. it doesn't do anything for middle class it will destroy middle class job creation. the more we tell people that the stronger we will be in being able to negotiate a solution moving forward. >> bill: handicap it real quick, is it going to happen or go into january with chaos? >> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff...
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Dec 4, 2012
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then you're fighting for tax cuts, not tax increases, but we'll see. and the fact of the matter is that grover is just a vessel for a bigger issue. taxes used to be -- >> he seems to be calling the shots. >> he's not calling the shots. >> last week to figure out -- last week on the media there's a lot of reporting that saxby chambliss stood up to grover or broke with him. here is what he said. let's look at that first. >> i care more about this country than i do about a 20-year-old pledge. >> do you think that grover norquist would hold a no new tax pledge that you signed 20 years ago, would he hold that against you in an upcoming re-election bid for the u.s. senate? >> well, you know, in all likelihood, yes, but i don't worry about that because i care too much about my country. i care a lot more about it than i do about grover norquist. >> well, "the washington post" reports today that five days after making those comments on television -- on radio rather, chambliss and norquist spoke on the phone. as norquist read allowed a transcript of chambliss' e
then you're fighting for tax cuts, not tax increases, but we'll see. and the fact of the matter is that grover is just a vessel for a bigger issue. taxes used to be -- >> he seems to be calling the shots. >> he's not calling the shots. >> last week to figure out -- last week on the media there's a lot of reporting that saxby chambliss stood up to grover or broke with him. here is what he said. let's look at that first. >> i care more about this country than i do about a...
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. >> president obama was making case in virginia to and the the your tax cuts for wealthiest americans. with a falls church afternoon. we'll have the latest capitol hill over could happen should we go over the fiscal cliff. have a new report that moving into the s moving out who i and why. see you in a few minutes. >> tonight, we will find out happened to the president's scandal. cliffhanger left is wondering shot -- as the vice president takes control. e must all join hands and pray for our president. as you about your heads, rest assured i am in the white house charge of the situation. >> see what happens on the all "scandal." lookeds take another it to see what is happening with the national christmas tree lighting. neil patrick harris is the host this year. waiting on the of the first family. they should be there within the next few minutes. come out and flipped switch. >> always a beautiful sight. >> this will be interesting they change to the for the first time. we will see what that looks like. >> let's check in on however is feeling. >> getting into the holiday with the cold we
. >> president obama was making case in virginia to and the the your tax cuts for wealthiest americans. with a falls church afternoon. we'll have the latest capitol hill over could happen should we go over the fiscal cliff. have a new report that moving into the s moving out who i and why. see you in a few minutes. >> tonight, we will find out happened to the president's scandal. cliffhanger left is wondering shot -- as the vice president takes control. e must all join hands and...
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Dec 1, 2012
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we have known about the fiscal cliff and the sequestration and the tax increases or not tax increase, since a minimum of august of 2011. >> they have done nothing, except have a lot of chatter, no product. they have the super committee in november of 2011. they couldn't reach an opinion. so did they meet in december in no. january? no. february? no. did anybody do anything? no. in august, they went on vocation and campaigned for their vobs -- jobs. they took off august, september, october, early november and they are now worried about getting a deal before their christmas vacation. they are worried about christmas. i think, go figure. any business owner would never do that. so -- am i too hard on politicians? >> no. what this comes down to is the need for leadership in our country. think about all the problems that you just -- that you just espoused, gret a. and to consider that you take all of those problems and then have you to acknowledge that the leader of and the cause of many of those problems was just re-elected for four more years of the same? four more years of the status quo
we have known about the fiscal cliff and the sequestration and the tax increases or not tax increase, since a minimum of august of 2011. >> they have done nothing, except have a lot of chatter, no product. they have the super committee in november of 2011. they couldn't reach an opinion. so did they meet in december in no. january? no. february? no. did anybody do anything? no. in august, they went on vocation and campaigned for their vobs -- jobs. they took off august, september,...
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that's not a mandate to raise taxes. it's a mandate to work together. >> mandate to work together which means they may not go on their break which is expected. i heard the speaker tell you that he's going to tell you as well. quickly, dana, he's going to stay regardless of whether they go on break, right? >> reporter: right. and the question was the house of representatives is going to finish their work this week in about 45 minutes and it's only wednesday. >> right. >> reporter: they are going to go home. they are not going to be in session on thursday or friday. i asked the speaker whether that is got optics for the house to leave town while the fiscal cliff is so close in front of us and that is the answer, that he will be in town, ready, willing, and able to talk to the president at any time. so that was really the issue. the house republican leadership, i tell you, they say they simply don't have any legislation to put on the floor. that's why they are play sending their members home. they are hoping to get the mess
that's not a mandate to raise taxes. it's a mandate to work together. >> mandate to work together which means they may not go on their break which is expected. i heard the speaker tell you that he's going to tell you as well. quickly, dana, he's going to stay regardless of whether they go on break, right? >> reporter: right. and the question was the house of representatives is going to finish their work this week in about 45 minutes and it's only wednesday. >> right. >>...